BEDMINSTER, N.J. (AP) _ Magazine publisher and motorcycle enthusiast Malcolm Forbes gave actress Elizabeth Taylor a custom-painted purple motorcycle Sunday, and the two denied wedding rumors before taking a spin on it together.

''We're good friends, why complicate things with marriage?'' said Forbes, as Miss Taylor nodded in agreement.

''The only engagement we have is to take this for a spin,'' she said of the gift, a 1988 Harley Davidson 883 ''Hugger'' which she described as ''super.''

Miss Taylor, who has been taking motorcycle driving lessons, clambered on back of the machine behind Forbes. The two pulled down the driveway of his estate here, followed by some 50 members of Forbes' motorcycle club, ''Capitalist Tools,'' and headed for a day of races at an Englishtown track.

Forbes, who took the actress on her first motorcycle ride a few weeks ago, said he chose the color to match that used on packages of Miss Taylor's new line of perfume.

The logo for the new scent was painted in gold on the cycle's gas tank and fender. The two wore matching fringed red-leather jackets bearing the Capitalist Tools logo.

Forbes, a millionaire whose cycle collection includes many one-of-a-kind bikes, paid about $4,500 for Miss Taylor's motorcycle and another $500 for the paint job, his assistant David Stein said.

In return for the gift, Miss Taylor gave Forbes a ring of a silver, helmeted skull with ruby eyes. To mark the occasion of Miss Taylor's first ride, Forbes had given her a similar ''biker'' ring.